Barrick Mining Corp. (NYSE:B) is exploring a potential IPO for its top-tier North American gold holdings. The move could reshape its portfolio structure and offer investors targeted exposure to some of the world’s highest-grade gold assets—while the company retains strategic control.
The Toronto-based gold and copper producer’s board authorized management to begin evaluating the spinoff of a new publicly traded company. This would consolidate assets like Nevada Gold Mines, Pueblo Viejo in the Dominican Republic, and the Fourmile discovery in Nevada.
The stock jumped 4.5% in premarket trading Monday, extending an already explosive year. Barrick has rallied 162% year-to-date as of Friday’s close, outpacing sector rival Newmont Corp. (NYSE:NEM), whose shares are up 140% in the same period.
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Barrick Considers IPO: What's Happening And Why It Matters
The company is calling the potential spinoff "NewCo"—a placeholder name for what would become a separately listed, U.S.-focused gold miner. This new firm would include Barrick's share of Nevada Gold Mines, the largest gold mining complex on the planet, the Pueblo Viejo mine in the Dominican Republic, and its wholly owned Fourmile discovery in Nevada.
Combined, Nevada and Pueblo Viejo generated an estimated 2.5 million ounces of gold last year. That translates to about $3.5 billion in revenue at the average 2024 price of $1,950 per ounce.
"Barrick's gold operations in Nevada and the Dominican Republic are among the best in the world, located in some of the best gold mining jurisdictions," said Mark Hill, group chief operating officer and interim president and chief executive officer.
If the IPO proceeds, NewCo would be listed through the sale of a minority stake, with Barrick maintaining a controlling interest. The company said this structure would provide optionality for investors looking to target North American gold production, while preserving the benefits of Barrick’s global portfolio.
Barrick said the IPO process is still in early stages and any decision is subject to market conditions and board approval. However, a key update is expected when the company reports its full-year 2025 results in February 2026.
This kind of structure is increasingly popular in the mining industry. Investors can invest in companies aligned with their specific goals—such as exposure to U.S.-based gold mines. It also tends to come with less political risk than operations in emerging markets.
“While we explore an IPO of our North American assets that could give new and existing shareholders more optionality around jurisdiction in a pure gold company with growth, we will not waiver from our commitment to operate safely, perform to our targets, and deliver our growth projects," Hill said.
Market Reactions
Gold futures traded 0.8% higher to $2,250 per ounce on Monday, eyeing their third straight session of gains. Gold miners rallied in premarket trading with the VanEck Gold Miners ETF (NYSE:GDX) up 0.9%.
Aside from Barrick Mining Corp.’s 4.5% premarket jump, other notable gainers included Coeur Mining Inc. (NYSE:CDE), up 3.05%, Hecla Mining Company (NYSE:HL), up 2.98%, and First Majestic Silver Corp. (NYSE:AG), which rose 2.43%.
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